Now Playing

3/28/2012 1:00PM

An App for Couples to Send 'ThumbKisses'

A new app allows couples to send "thumbkisses" to each other when they are apart. Plus, Katie Boehret discusses new catalogs apps for the iPad, why marketers are resisting new FTC guidelines and venture capitalist Lucy Marcus discusses the secret of winning start-ups.

This transcript has been automatically generated and may not be 100% accurate.

... I ... what are the real secrets of start-up success but the debate on this that will happen this season venture capitalists will tell the full reveal what you need to know ... that and an app to send a kiss is the all all bought ... was not on that level I'm all ... right here right now on Digits good afternoon and welcome I'm Simon Constable Jim Valentino DeVries joins me for the entire show ... Lucy Marcus who is the season but a capitalist I mentioned and talk with the benefit of isn't this a reason ... aam ... get your budget double its annual so I'd advise on this of the the the ... the thick of the covenant I guess all I'm ... investing to budget doubles but one of the secret sporty look for when you know someone comes up with ... no sheet of paper ... and some scribbling says can I have ... to meet goals for my startup ... with the now forty people ... I'm actually ... the most part of the supply of tech de think fundamentally is to look across the board with the need to invest in making things ... are looking for real Sussman there was the tiniest of ten years ago dock on and so we ... were happy to get in the vicinity of PGT ruling ... in the sky seem like good guys and say hi since ... May and the statistics tell yet that that seems fine BBC's my son ... that's really not sufficient anyway I mean ... you ... are limited partners in Investing in Funds art ... are risk averse ... and you need to be with approved it you've actually done your Massocca show your mouth to shed light dissented take this investment ... OCD able to bring some comfort everyone around you and ... it's it's really not sufficient to just take it on the speaker said ... don't look for a team that actually feels solid ... and that actually understands the market isn't all hyperbole ... not really just didn't ... feel we have ten percent of the largest market in a world that's really think my kids and I wonder how you can get it and I know what to do with it ... one interesting steps in to take the stomach for ... for my perspective I'm in ICT was a couple of hats honestly say I I do a lot of work on ... aam Morrison and good points and look for supply can I like to see you know early stage ventures to the key support and not just with ... authentic Apple's on the board couple the founders but I think it's actually important to have ... an independent board members on an early sequence ... the irony and are you looking at these companies for it and spy what you Clik A etc am American ... he's a very early and down ... in recent after dinner she asked each ... time we tend to look at them you know when it benefits from nineteen eighty nine with a bit of research it's on ... it's actually tricky to ... come because ... and especially in biotech its high risk time we get to the company's very well before we invest in them ... the plinth with them and then you know where the sound ... of reactions are having on one of my characters on onthe on the board ... aam but again you know we're going to cap was sitting on import I don't think that's sufficient ... I wasn't sufficient so what do you like to see should it to someone came to you instead when I had this this idea we've been we've been working on on this of this and I have a board of advisors who are not ... connected to the company ... would die pricing greatly ... twenty twenty tournament ordered Pfizer's I mean it you can have a list of people on a piece of paper that has actually been costly currently at all because ... you have a lot of names something the need to know that their names on that list ... it's actually having these women employed is there ... in the circumstance to be used properly indexing to add value to ... him ... when I was sitting on the board as a venture capitalist I've got something particular and not the I ... I wanna make sure that my investments your time and and and and when make sure that the company is doing well but also I'd I had half a mind ... the found to have a certain path in mind in action as ... cost Italy's mix and so I do think that some point have some non investor who has some expertise in the area mature working or actually understands how to do some things that some of the company might not adding to ... the canteen or something ... and Associates in there and is actually ... only thinking about loving the company ... the dome of the founder that don't know the venture capital only care about this the idea where to go ... and they actually acts ... as a buffer and also is an instigator and I thought the poker ... session to make sure that the ... tactical stuff just on the House of the statistics that customers grounding Stephens contest ... the important thing is well is ... that ... if the magic of Christmas has one ... hundred thousand of them with ... pizza ... toppings UK ... you can't just have been putting pencil it on his knee and authentic happens ... often and because the guts of my ... is there some ... and specific ... and I attacked area they they're looking at lights on our fund looks at at any ... time ... the most part ... biotech engine unlimited some to place his statement yet on the far most of ... time and ... it's it's with the main instigator ... and so ... because we believe the company's tenements would manage the risk of lot more than a recent brand companies ... and we'll soon ... know we see them over time ... we get to know them really well ... to keep an eye on things and to help them out if they need to read actually ... when we start to the fun as we have ... a candle and investors ... so the panel that we bring together experts in ... their not ... part of the fund that they are people who help us to violate these things because was stopped its coming through the door ... is like nothing you've ever seen before and it is so complex ... and and so extraordinary that no one person can eat ... even if you had done and your PhD a couple of years ago and in and ... and and we see a lot of anti Catholics in this area and ... many biology degrees in physics to get ... the stuff to pursue it doesn't fall into any particular character and I kept Canaccord yet it's fantastic it's extraordinary ... that it takes a team of people the people who died with some stuff ... but it's very exciting ... public even to Silicon Valley was a little outside your people call expertise with was seeing any of our last stops on which I look at my ... eyes seem doubtful business models ... sprang will perhaps ... of particular note group on which seems to have its pretty obvious ... the ... win win situation I think that anyone can set up a coupon company like with John um I can some one tomorrow should be great to be great if it does in one unit the company's I'm like that with no moat around the obese the pirates the cause of most because his patents ... aam did as a twenty twenty C then Silicon Valley or is it not ... where is that Silicon Valley are slightly different I mean I think actually ... knew ... we see it that much more about who's accustomed to live with the customer's the technology side of things you can get there ... actually ... I wanna see them thinking more about ... how the customers operate into the customer sites what worries me sometimes it is is if there was ... living in a bubble with or talking to each other soon to things sound really good and look really good to each other ... but actually ... I and again on the boards of companies they've got everybody knows anybody else the offences against where's the international perspective ... where's the customer perspective with the not Silicom Valley or money perspective is the isthe is that when when you also can each other and BIDU now you are permitted to live inside a bubble but when you pop the set was printed in a few drinks sounds better and better ... write that that's what insights and maybe that's the message the Silicon Valley with the market ... what now ... thank you very much Switzerland is on a budget of less than you would you continue your time today ... well our catalogs but on the I pad special K ways that ... at the right ... with that with more Digits to add WS J live and get this there is now an app to send kisses CEO love up ... will get to that later but for us on tablets better on the I pad then Inhofe told me ... we got special K Katy Brett itself subject to join to weigh in with us from Washington DC thank you very much for being here ... aam height to get catalogs in them I only usually go straighten them then ... calmed somewhat somewhat did you find when you look the calico lab ... yes I'm it's funny how unfair when that things exist brow image actually be fed by ... a lot of time and hasn't even sit down and relax and let your if I lived in an outdated on needed niche friends are things that come ... see why it might take a peek at them that you don't necessarily want them cluttering up your coffee table so ... this is the way and compiling all of their catalogs ... that come in there for very ... in one place and the elected three different path one at that with the old catalogs ... weeks and I'll add two hundred different brands like a hundred fifty catalogs in the half feet concedes there would be unfair to things ... taking a break things that she really light ... I you can send this to friends and peers and its really bought that I have really enjoyed using it ... you can actually like about regular catalogs that you really have to think about ... updating them the way you might need to update and ... he just kind of shell out a new and look at them and for that I mean ... how easy is it too I'm kind of had that feeling of serendipity easing and ... that's the test ... yet the question whenever I think that he will ... do a really nice tablet sorting I bring and war or by canceling a shoes or jewelry or homely action ... so you can just click on one of those ... and instantly your screen fills with all sorts of cutters that different names and different brands seeking kind of just ... if everything he did an existing in a ... Dean and Deluca have to have a lot that I never knew before or ... die moment she can use lambing fine on the plane and if every adult life here I've I've been ... acting like Neiman Marcus is in love with since this incredibly ... hot act it out alive and a lot of people like looking that though it's really fun to be awful to look at the things I think there is more scary if it were to every ... possible that the act ... so ... how is this difference fundamentally from beside me go to the JP landslide on the wet ... and so does produce fruit that ... one is on the I pad what's what's the fundamental difference in on your view ... yes that's a really great question and I think if offered that you that there's access ins to the way that news paper is laid out for the way how a lot of laid out ... its debt in a way that is designed beautifully and it meant in case you as you change through as you go through more and more and more PG if you're looking at different scenes are looking at different ... people or different activities ... it really well laid out there's a lot that the answer that ... so when you're and I had a lot it's much more enjoyable to he's really even physically ... then you would be doing so I went thank the difference Rawlins role in ... the search for the thing you want a new plant in a sprawling and ... that this is much more sit back relax and hugger I have with your I've had your Kindle Fire your InTrade that's kept liquidity having your hands ... on your lap and relax and look at it that ... the one problem I will say that doesn't get solved with the official tablet ... it did if you want something it's no longer available ... a well I'm actually be taken out of the catalogs which would be really Bankrate you have additional advantage of looking at Allianz think my campaign ... said the ACA now it's no wonder about all that that one of my down time ... write to really fall ... so anything kinky Avner what with me at the Sabine Pass brought to the table Bay at you wouldn't get high end of regular ... cataloging terms and ... in interactivity and sharing that if they like them access to you really notice ... that though one of the things in Google catalogs you can create ... a lot of stuff on your favorite item fifty year redecorating your home ... side entertainer for a new one every MF blue and you wanna go around different I love the black blue ions are things that might blend well it that ... it didn't acknowledge the favorites and then make the lives of the inside ... in and share that publicly with other people we use the app or share it ... with friends by e mail ... and there are really great ways to link directly three with this catalogs ... onto the web sites and when I popped out right with in the XV don't have to go out separately to Safari to buy something ... it's all built in right there so it saves a lot of that ... well we gotta leave it that thank you Brian much second round special K itself the check that story out ... in today's paper well with me in and thank you very much for joining us ... but isn't the four G LTE I phone from its brands ... maybe maybe not will tell you all but after the break ... with that with more Digits to add WS J live I'm Simon Constable and yes we get to that story about the ... kissing out the app to send kisses to you love all that fussed ... businesses are opposing new FTC guidelines about saving information in the auto sector and on the set to ... tells all about this ... visit will to do we want ... these can keep a bow when allow you to tells about ... yet mean it's somewhat germane to that hissing AppData and ... by that ... so basically the FTC put out guidelines ... on Monday ... and what they're asking companies to do ... is if you go and you buy a week and the occasion ... I'm ... what's actually going that trip there's no real reason why the company ... should have to ... keep that information ... as far as our customer to this ... aam interview but your preference isn't the kind of tells you why ... aam you know you're you're caught under tree and so they are giving information on you it's for additional marketing purposes ... um ... so basically they're saying ... you can have you can keep information in order to be selling products ... you can ... keep it in order to do what leader marketing gonna lie ... now obviously there's a lot of retailers are ... particularly happy about that because this is this is really ... like the core of their business ... they liken it to ... so anyone with information so they won sixteen and had me I'm ... the thing that they don't want any limitations on the southern anchor and are willing to negotiate ... with ... their toddler park it somewhere discuss that these are voluntary guidelines into something I think the FTC would like to see adopted over time and are also pushing for ... legislation any a botanist ration good signal that ... something has to be donned in terms of ... data collection in this country there is there are a lot of concerns ... aam ... they're not saying that no information to be collected ... at all are kept in all but they're saying that after ... it's a regional focus ... and the ritual transactions no longer relevant ... then if you do want to keep it ... then you have to make it extremely explicit customizing go ... the subsequent a store in town from the general counsel of the National Retail Federation Ali Duncan and the court is it's like asking the green growth set to open up his mind and forget they like the Queen of Alexis ... that seems to be a reasonable complained that ... I mean just and it seems like ... you know you'll all agree with this idea ... seems reasonable ... yes face ... because you know what that what what the retailers are St is a play ... piano ... mobile shops have always known pre deal about us was the fact that much more about their customers and prosperous families that online retailers ever had ... I think the FTC has a tough job insert striking a balance between ... it is for online world where ... there's profiles being collected on people and they're going to third parties ... and ... you know that didn't stop the struggles between bath and ... the needs of the author of online companies also customers wanting a lot of us would actually do like it that ... these companies can make recommendations to them I mean I might shop at Amazon and ... have good sense of the books I like ... different the month at quote in your story where for example of saying that and ... he is hopeful to customers that I'm in some respects to ... be the Buffett and things that they want new and conditioning think ... retailers tend to stress that they're not really keep being ... there keeping your preference is fully implement taxes or red Jackson's or something along those lines ... I'm ... by this other information that could be kept as well ... it tells me we might add up to you when you think you dislike men chances ... that's not a BDO Betty if they know that you like Grantham Jensen's that cost five hundred dollars ... any data but to think the other lovely companions ... surmise what your income level is ... what your I'm ... either ... so sending prices the human ... why ... didn't the rate that and this is the lead on line so it's a ... panic Congress eventually maybe maybe ... when we look to leave it that Joe fact one of the Wall Street don't check that out on the vs day don't come we would increase your time tonight ... well when the purchasing and get the first is the four G LTE I phone coming to friends friends ... you would think ... shots Atkinson tells all about it now ... may be missing a Lexus in May that there is a Shiite ... at the first assumption ... um yes Alice Springs as he was talking and he said that there's no reason that they can have the phone ... under their contract is similar to Brighton in eighteen T ... regions pretty different in terms of twenty oh I really as ... nice a different version of Ford's he then asked in eighteen T right now even rolling out ... the Navy recently decided to switch to members and ... the other companies are using ... but its mystical while Freeman to get coverage advent like Verizon right now it's pretty far ahead of everyone and as Filippos ... I think you're going to have ... an end to major markets but end the year but ... still it's it's credited hung in a guys only six cities by midyear ... and those six cities along and all ... I'm not in a dissent is there an agreement in the middle of the country right or wrong to be small towns from ... light and I'm not sure what the exact cities are may use rebates astronaut areas that we we can you can you control the situation and how does that mean you have to test this out before you decide to roll it out to every ... every network it's it's every year and it's it's expensive to roll out a new network ... CTS added a better nationwide ballot ... I'm so sick sick citizens can become an interesting to see that aam ... fourteen ... the question when actually means the right because every company has a different definition of the Renault international standard that's too bad my understanding is that in this case the fate of referring to ... acts of twenty two pm yesterday a downturn since the end of the fourteen for which there is in fact the standard and ... as I get into the guessing game but this is kind of what people think ... he at ... next I found my ... included in the AIPAC the middle of it and I knew I pad and works with four G LTE SEO and don't think it would be a shock to anybody in the next I've ... been that's why I'm thinking that's what people are expecting ... now we run over will last few days that the new four G LTE ... all I had socks data plans to write like that and coming designer BBD think if if ... if sprayed did in the next I phone is a four G I phone to the nest and lay people wary of getting its name because I was a sign that I mean ... it's for this team A's its traffic and mean it's it's very noticeable if you're using three G persisted in the four G ... so I don't think people are going to necessarily not debt for GE ... but in my case I turned my not ... enough I you know during the day when I'm not using an ... eye on the alternate offer I'm just going to ... have browse the Web know you may not be said for those kind of things but it's you for watching video things like that it's a it's amazing ... and that's where I think it is this updated as a base of the nest right yet so that is what I'd I guess I guess is that it's the spice bread but the Senate with with that were ready when when when Apple's Friday were ready to to to take your I phone on what will it be aam while although companies with what the funds will this bring you think because of this ... I'm ... I think that companies are trying to read a little bed and this friends at work needs to get HealthSouth a little more than a stock of Idenix's him ... on yet I think eighteen T has a ton of four G LTE devices right now is that this ... so on ... that you know I'm the type that we have and yet this is this is kind of like that ... the carrier's main and six it said the standard it's going to be a nuisance at a time when ... just a matter of time to run to the chamber for it to Grandma chart and Darden's Newswires check out the story ... white bread by upgrade Greg advancing on the vs day don't come ... well it's time now for the testing out my map so you can send your mama a kiss Liz Gains joins us now ... from AllThingsDigital and San Francisco lists this happens we now for four days ... I the eye ... yesterday yes ... REITs aren't enough five days and it's been a lot on how many times and downloaded some platonic is a good sense ... yesterday and getting ready if he ... wanted to know him ... not the draw something of great use for us ... this is one of the wealthy chair ... the main issue ... is the PR ... people hear ... eighteen hours for ... keeping in touch in a relationship ... we believe following situations yet ... I knew the full year including a feature that there could be and there are no pictures you can think ... and to use the winter snow or maybe working ... in ... it than the one who can fix it when you race your ... began with green ... and ... it shows or in your significant other I don't wear it to me ... it's ... a nice show is pricing in the press they're there on the home screen when you when ... you're done for ... free ... but ... this is part of it but if only I mean I phone I need I need this other life right ... really change right ... the window ... for great Britain ... and I'm looking at ... I mean one minute preventing attacks ... on Friday ... yes I know I ... think ... of me and ... I'm ... the ... contents of this plan has been just to text and mad and sad and set plans set here in ... business to relieve Adam on firm more possibilities been than the enemy and get this and she ... I'll admit that I'm ... de think that the funding that people will be using more permanently is this kind of a novelty think ... oh why not ... you know you try this one thing ... leave ... I ... she has ... yet to master whenever he speaks your significant other ... when I got an offer you is it that you are ... all the interactions he never had ... anything to me when you need something ... no ... woman in the archive ... rely on past events will be an advantage depending on ... the twenty one of the religion guns ... I mean ... Lee ... yes ... I know ... he he ... maybe I read it yet ... and that that that that silence of the fight with the persons mentioned a couple of tables ... up at your palm to someone breaking the financial ... it's a semi someone breaking the pundits doubt you'll read so tell us how much is this is this for a connecting flight plus find out the wonderful to my I phone coming into the fray ... it's great ... to be ... Isaak ... no not yet ... I think it's for a job in their ... freezer Price going so well ... I believe they know it without couple twenty were it's a private ... placement deal like that ... we ... were ... in you when did he make it out ... if they come ... to an eighteen times ... the right place for that something that people feel a lot of time ... yet ... I'm basically just the ... booking for our water wouldn't see the white reader program in U ... P and we're working on the ... year eighty nine I ... read yesterday super PAC ... were making their growth ... so starting out ... to him in the ... euro meet Mr jury duty are pricing in the belief that they have a go ... what sounds like a lot of fun to me thank you Brian much Liz gangs with AllThingsDigital out in sentences go ... now he and I'd I'd I love buying things with his dry if any rights is the ... youngest you can put up by as much ... as my my focus is all one of a okay ... um and a Walsall Japanese symbols came to the four million active fan of Paul Allen has landed in himself in federal custody ... GM this is a fascinating story this man trying to steal four hours I tend to see ... Ray and yet if if the golf team effort and works of it is too simple ... and so basically what this is me and David Keene and ... contacted Mr Allen's think ... and that made it to the ... streets Cynthia draft and intend to get a new debit card front and ... tear at its peak of the halal and that fourteen billion dollars with Grandpa and you know they've they've co-founder Micra soft Japan the line with Bill Gates and think ... that he's had a number of other adventures Sam yet he cities and will walk from the fund ... for the car not the car with the people that on the twentieth into drama at ten to fifteen thousand the total Western Union transaction data are not what you know about my what I think is the floor and it's the hand and attempted to make an eight hundred and fifty eight eleven eighty one cents payment to the armed forces by loan that taps bright ... and that would cement a ... to B of the video I write yet I think that Paul Allen is really can be doing that's I think yet from ... the bank the defence in an agreement in federal custody ... and ten ... you know ... I might want to select somebody a little less well-known than ... with what there what what and just like it so much money ... what with that which is the idea of running with my view my home is that ... with them trying to help it find one that seems to be available yet ... added I really really are seeing then it was successful front tactics when it seems the ones that talk about an Amish Fausto about Iowa so what you might be so this is this cute to me is that that that it is this the you know the US um ... you know some forecasts let's keep it uses to their ... business plan is to the news ... and if yet been found to bring the dozens every product sold to meet anyone need of long naps on the vs day don't come as an AP story and if I'm not on our site my mother and Dom it's it's the right way and that by DRAM much to embarking on to praise ... on Simon Constable that's it that's digits for now ... we gotta fall with the news out ... the